Fibrosis Endpoint MissPemvidutide missed on 1-point improvement in fibrosis, causing the stock to trade down ~50%, as investors were expecting significant results on both co-primary endpoints.
Market ReactionALT shares are down around 55% vs. a flat XBI, which is viewed as overdone given expectations for a positive fibrosis outcome at 48 weeks and for the program to advance to Phase 3.
Underwhelming ResultsGiven the lack of fibrosis improvement at the 24-week primary endpoint and the limited ability to demonstrate stringent fibrosis improvement at the 48-week time point, the results are considered underwhelming.